All insights
BoE stress test shows resilience of the UK RMBS market
Elena Rinaldi lays out analysis from the team's recreation of the BoE's bank stress test from a mortgage default and loss point of view, applying it to a benchmark UK RMBS BBB-rated bond. Ultimately finding that this type of analysis gives us confidence that the UK RMBS market can withstand stresses beyond those applied by the BoE.
ECB's bank lending survey has something for everyone
Felipe Villarroel gives an overview of what he believes to be important features of the survey, reflecting on both the good and the bad news.
PMIs below expectations in Europe and the UK
Felipe Villarroel looks at the preliminary numbers for July PMI Manufacturing and PMI Services data, and how from a markets point of view, he thinks volatility will remain in place while both rates and spreads should trade in a range as we await for more clarity on whether inflation will allow Central Banks to pause and the extent of the slowdown in H2, particularly considering August is looming.
Reinvestment risk growing, along with the soft landing narrative
What level of risk are investors willing to take? As central bank rates hike and a soft landing narrative makes its way into analysts’ forecasts, Eoin Walsh takes a look at what affects this has on investment risk and reinvestment risk.
Soft landing narrative taking hold
What sort of landing will the global economy experience? With the recent release of the US CPI report, inflation has been on a downward trend and the resilient activity data has continued to surprise many. This report has acted as a trigger of sorts for increasing calls for a soft landing.
Two interesting reports by the Bank of England
The Bank of England has released two reports, namely the Bank of England’s UK Banking Sector Stress Test and the Credit Conditions Survey. Felipe Villarroel discusses the findings in these reports.